RentHop, an apartment hunting site that uses a combination of algorithms to sort apartment listings based on quality (as opposed to just price), recently released a study on the average rent of one-bedroom apartments by each of the Chicago "L" stops.
Their findings, which are shown on the map to the right, were determined by averaging the rents of apartments listed within 500 meters of each L stop, according to RentHop. For every stop, a minimum of 50 listings were used to calculate the area's average rent, meaning that in some cases, the radius was extended to include more listings.
At L stops where the average rent dramatically decreased from the previous stop, the rent is highlighted in green. Dark green indicates a price drop between 10 and 20 percent, while bright green indicates a price drop of more than 20 percent.
As one might expect, the average rents of one-bedroom apartments in and around the Loop were about double the average rents of apartments listed off L stops on the North, West and South Sides of Chicago.
With an average monthly rent of $2,302, the Merchandise Mart Brown Line Stop has some of the most expensive one-bedroom apartment listings in the city, according to RentHop's study. Coming up just behind that is the Clark and Lake Brown Line Stop ($2,155), and the Grand Red Line Stop ($2,129).
Conversely, the three L stops with the cheapest rent were found on the South Side of Chicago's Red Line. With an average monthly rent of $679 per month, 95th and Dan Ryan is the L stop with the cheapest rent, followed closely by the 69th L Stop ($683) and 87th L Stop ($685).
(Images via RentHop)
